Market Overview

Twitter Up 30% After-Hours, Beats Q2 With Outlook Above Views

Twitter (NYSE: TWTR) shares gained 35 percent in after-hours trading after the company beat second-quarter expectations by a wide margin.

Twitter told investors to expect third-quarter revenue above the Wall Street consensus.

"We believe we can extend Twitter's appeal to an even broader audience," said CEO Dick Costolo, adding that "user growth and engagement" will stem from a company focus on "developing new product experiences."

In the recent period, average monthly active users grew 24 percent from a year earlier to 271 million, while active mobile users grew 78 percent.

Advertising revenue was up 129 percent to $277 million, 81 percent of which was mobile advertising.

International revenue was 33 percent of total revenue and grew 168 percent to $102 million.

The company forecast third-quarter revenue of $330 million to $340 million, versus analysts' average estimate of $323.7 million.

For the recent period, Twitter posted adjusted income of $14.59 million or $0.02 per share, on revenue of $312.17 million. Analysts expected an adjusted loss of $0.01 per share, on revenue of $283.1 million.

The year-earlier adjusted loss was $61.4 million, or $0.12 per share, on revenue of $139.3 million.

Twitter traded recently at $52.25 million, up 35.4 percent.

Posted-In: Dick CostoloEarnings News Guidance Hot After-Hours Center

 

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